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IN Partnership set for merger

IN Partnership forecasts mass amalgamation of smaller networks and says it is seeking a merger itself by the end of this year.

The network, which has 500 registered individuals and over 200 firms as appointed representatives, says smaller networks cannot remain profit- able if they do not improve economies of scale.

Chief executive Kevin McDonagh says two reasons for IN Partnership seeking amalgamation are a depolarised industry and increasing regulatory costs.

McDonagh is predicting more mergers along the lines of IFA Consortium, the group which earlier this year brought together Falcon, pi Financial and Financial Synergies.

He says: “We are looking at merging generally as I think this is the way that the indus-try is heading overall. We are hearing of more and more consolidation of the smaller networks. I think it makes a lot of sense.”

Hanson Financial Management director Nicholas Hanson says: “Consolidation is a key word for IFA practices as well as networks.

“With increasing regula-tory costs, practices are starting to come together, networks and IFAs. As long as the control over the service is good, which is more of a prerequisite than ever, people joining is a good thing.”

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